ReconAfrica begins production testing at Kavango W well

Executive Summary

• ReconAfrica has commenced production testing operations at the Kavango West 1X discovery well in Namibia, with regulatory permits received and work crews on site.
• Updated petrophysical analysis indicates an increase in hydrocarbon pay in the Huttenberg formation to 75 metres (246 feet) net pay, up from the previously disclosed 64 metres.
• The company is reprocessing 3-D seismic data on the Ngulu block in Gabon and expects to select an appraisal location for the Loba discovery, with a third-party resource report expected by the end of 2026.

Key Details

• Kavango West 1X Testing:
  • Production testing operations have commenced on schedule.
  • Regulatory permits for production testing have been received.
  • The production liner has arrived on site; contracts have been signed with Halliburton and Schlumberger for equipment and services.
  • Local suppliers have been engaged for support capacities.
• Petrophysical Analysis Refinements:
  • Net hydrocarbon pay in the Huttenberg formation is now identified as 75 metres (246 feet), an increase from the prior disclosure of 64 metres (210 feet).
  • A total of 345 metres (1,132 feet) of prospective interval will be isolated and perforated for testing.
  • Testing will cover six optimized zones: three in the Huttenberg formation and three in the deeper Elandshoek formation.
• Gabon (Ngulu Block) Update:
  • 3-D seismic data is currently being reprocessed over key areas, including the Loba discovery.
  • Upon completion of seismic reprocessing, an appraisal location on the Loba oil discovery will be selected.
  • A third-party resource report is expected by the end of 2026.
  • The Ngulu block covers 1,214 square kilometres (equivalent to 54 Gulf of Mexico blocks) in shallow water offshore central Gabon.
  • The block is located on trend to several sizable producing oil fields and contains over 28 seismically identified prospects in presalt and postsalt plays.

Notable Quotes

• "Catalyst rich 2026."